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Joel Silver Finalizes Purchase of Former Venice Post Office

Renovation of the historic Windward Circle property is expected to be completed in 2014.

Producer Joel Silver has purchased the historic Venice Post Office on Windward Circle in Venice. The facility will serve as the headquarters of Silver Pictures Entertainment, he confirmed in a statement to The Hollywood Reporter.

The Matrix producer is planning a renovation of the Art Deco building, which was built in 1939 as part of the Federal Works Progress Administration. Renovations have begun and are expected to be completed in 2014.

The 24,000-square-foot post office includes Edward Biberman's "Story of Venice" mural -- long considered a local landmark by Dogtown denizens. Silver said that he would restore and preserve the mural.

“As a longtime preservationist of architecture, I’m thrilled to move forward with the restoration and renovation of the former Venice Post Office,” said Silver in a statement. " I am also committed to being a good neighbor in the Venice community, whether through providing public access to the space or in developing programs for the community related to film, art and architecture.”

While the purchase price was not disclosed, the U.S. Postal Service had listed the building for sale at $7.5 million. The former post office is situated on a 30,492-square-foot lot.

According to the Venice-Mar Vista Patch, as part of an agreement with the Venice Neighborhood Council, Silver must follow the U.S. Secretary of the Interior's Standards for Preservation in his rehab work. Also, as part of the agreement, title of the mural remains with the federal government, and the public must have access to it, the website has reported.

Silver's offices were formerly housed on the Warner Bros. lot, where he worked for many years. THRreported in April that Warner Bros. would not renew the producer's deal with the studio.

In June, the Lethal Weapon producer's Silver Pictures signed a five-year domestic distribution deal with Universal Pictures. The Universal deal encompasses 12 movies of various genres across a five-year period, during which the studio will distribute two or three a year.